It goes without saying that under Section 47-A[2] of the Indian Stamp Act, the Collector is obligated to determine the market value of the property for the purpose of affixation of the stamp duty, in relation to which the instrument is being registered. In the instant case, the Collector has relied upon the petitioner's own Agreement to Sell which he entered with the vendor. The execution of the said Agreement is not under dispute. Not only this, the Collector has examined Khushpal Sachdeva – the Deed Writer, who scribed the said Agreement to Sell. The petitioner's plea that before execution of the sale deed, the 'agreement to sell' in question had been orally rescinded or that the vendor later on agreed to sell the subject property at a lesser rate, appears to be a total after-thought inasmuch as a written agreement could possibly be rescinded by formally executing a Cancellation Deed and not orally. In these circumstances, the determination of the market value of the subject land by the Collector on the basis of the sale consideration agreed to be paid by the petitioner can not be termed as irrational or perverse. No interference in the impugned orders is, thus, called for.
